Essential Tips for First-Time Homebuyers

Buying your first home is massive. It’s exciting, sure, but it can also feel like stepping into a maze. Between lenders, contracts, inspections, and auctions, it’s easy to feel like everyone else speaks a secret language. That’s where the right guidance makes all the difference.

And here’s the good news: the timing couldn’t be better. With the RBA meeting on Tuesday and the First Home Guarantee changes rolling out next Wednesday, the playing field is shifting, and in a good way for first home buyers.

So, where do you start?

I always tell my clients to break it down step by step:

• Know your numbers first – What can you comfortably afford each month? Don’t just focus on the max the bank will lend you.

• Get pre-approved – It’s not just a piece of paper, it’s confidence when you find the right place.

• Do your homework – Suburbs, property types, and future growth potential matter as much as the house itself.

• Line up the right people – A broker (hi 👋), a conveyancer, and a trusted agent on your side will save you stress and money.

• Don’t skip the inspections – A building and pest report is boring until it saves you $20k in hidden repairs.

Take it one step at a time and it all starts to feel less overwhelming.

Typical suburban street with houses and greenery

Quick Tips for First Home Buyers

There’s a lot to take in when you’re buying your first place, so here are a few simple reminders that can save time, stress, and money:

• Set a realistic budget – factor in stamp duty, legal fees, and moving costs.

• Think about tomorrow, not just today – will the home suit you if you start a family, work from home, or your lifestyle changes?

• Check the grants and incentives – government help can shave thousands off your costs.

• Don’t rush it – compare properties, suburbs, and options before jumping in.

• Surround yourself with the right people – a broker, a good conveyancer, and a real estate agent you trust will make the process smoother.

Contract and calculator representing financial planning for home purchase

How much do you actually need saved?

The deposit is the headline figure (5% gets you in the game with the FHG, sometimes even less if you’re eligible), but don’t forget the extras:

• Stamp duty (often discounted or waived for first home buyers, depending on the state).

• Loan application and legal fees.

• Building and pest inspections.

• Moving costs.

  
  

I usually tell first-timers to allow around $5,000 on top of their deposit to cover the “surprise” costs of buying. Better to plan for it up front.

Piggy bank and house model symbolising savings for home purchase

Choosing the right place

Falling in love with a house is easy. Making sure it fits your life is harder. Think beyond the photos:

• Location – Will the commute, schools, and lifestyle actually work?

• Condition – Fresh paint can hide a lot. Older homes might mean bigger bills down the line.

• Future plans – Kids, pets, working from home, does the property still make sense in five years?

• Neighbourhood vibe – Visit at night, on weekends, and mid-week. Every suburb has two sides.

The finish line: settlement and moving in

Once your offer is accepted, it’s all about ticking boxes:

• Sign and finalise your loan docs.

• Do a final inspection before settlement.

• Get your insurance sorted.

• Line up utilities and book the removalists.

It’s busy, but organised buyers move in without the stress.

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Being organised during this phase will make your transition into homeownership smooth and stress-free.

Buying your first home is a big step, but with the right preparation and knowledge, it can be a rewarding experience. Use these tips to guide you through the journey and make confident decisions every step of the way.